Kenya’s president says he has cancelled multimillion-dollar airport expansion and energy deals with Indian tycoon Gautam Adani after U.S. bribery and fraud indictments against one of Asia’s richest men.

Adani Energy Solutions said on Saturday that Kenya's cancellation of a $736 million transmission line project did not require it to make any regulatory disclosure under Indian stock exchange rules as it was within its ordinary course of business.

Kenyan President William Ruto canceled two deals with Adani Group worth about $2.6 billion over alleged corruption, hours after the company’s billionaire founder was charged by the US authorities in a separate bribery scheme.

It follows accusations that Adani was scheming to pay over $250 million in bribes to Indian government officials, which he denies.

By George Obulutsa and Aaron Ross NAIROBI (Reuters) -Kenyan President William Ruto said on Thursday he had ordered the cancellation of a procurement process that had been expected to award control of the country's main airport to India's Adani Group after its founder was indicted in the United States.

Kenyan President William Ruto sought Thursday to turn the page on a difficult year, cancelling controversial deals with India's Adani Group and vowing to tackle corruption, police kidnappings and gender-based violence.

Kenya has terminated two high-profile agreements with India’s Adani Group, intensifying scrutiny on the conglomerate, which is already reeling from allegations of bribery by US authorities.

Indian billionaire Gautam Adani has been indicted for fraud by U.S. prosecutors and arrest warrants issued for him and his nephew for their alleged roles in a $265 million scheme to bribe Indian officials to secure power-supply deals.

The president’s announcement came a day after Gautam Adani, the chair of the Indian conglomerate, was indicted in New York over his role in an alleged multibillion-dollar bribery and fraud scheme.

Adani Group has sparked a lot of controversy since its entry into the Kenyan market through proposed deals in the energy and aviation sectors.

The Adani Group clarified it had no binding agreement for Kenya's main airport after reports of cancelled $2.5 billion deals linked to US bribery charges. It stated Kenya's power transmission project cancellation doesn’t require SEBI disclosure.